Daily Dairy Trading: Traders Push Butter Three Cents Higher, Friday07 October 2013
US – Cheddar Barrels moved the most across Friday’s spot prices, after four trades supported a three cent jump, bringing the final price to $1.7500.
This leaves Blocks 1.5 cents above Barrels after finishing unchanged on $1.7650.
Slight increases were also seen for the October Cheese contract as futures edged higher from $1.7860 to $1.7870.
Butter and Grade A Nonfat Dry Milk were the other movers, lifting 0.50 and 0.75 cents respectively. Selling particularly well (38 trades), Butter maintained it average of around $1.6110, building slightly on the previous $1.6080 average, holding at $1.16110.
Bidding left Butter at $1.6150 with Nonfat Dry Milk closing the week on $1.8450.
Last week saw consistent prices on the previous week with only slight losses on gains on mean values across the board.
Elsewhere, Class III October milk closed down a cent at $18.14 and Class III dropped two cents to $20.33.
TheCattleSite News Desk